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Home»Taxes & Regulation»Charles Hoskinson urges Cardano Foundation to leave Switzerland for community-driven governance
Taxes & Regulation

Charles Hoskinson urges Cardano Foundation to leave Switzerland for community-driven governance

December 19, 2024No Comments2 Mins Read
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Charles Hoskinson, the founder of Cardano, has recently made a bold call for the Cardano Foundation to consider relocating to a jurisdiction that allows its users to elect board members. This issue was brought up in a post on social media platform X on December 18, where Hoskinson urged the Cardano community to question the Foundation about its board structure and decision-making processes.

One of the main concerns highlighted by Hoskinson is the current arrangement in which the Swiss government appoints board members without any input from the community. He also raised questions about individuals connected to the Foundation’s past decisions and its relationship with Intersect. Hoskinson believes that by relocating to regions like Abu Dhabi or Wyoming, the Foundation could adopt a more inclusive governance model that promotes transparency and member participation.

In his statement, Hoskinson emphasized the importance of the community collaborating with the Foundation to design a new structure that aligns with their values. He suggested that the Foundation should grant funds to this new structure, allowing for a more democratic decision-making process.

The Cardano Foundation, which was established in 2016, currently operates under Swiss law, which does not allow for community-based board elections. The Foundation explained that the legal form chosen in 2016 may not have been the most suitable for creating a membership-based model like the one Hoskinson envisions.

Hoskinson’s comments come at a time when the Foundation is facing criticism over governance issues, internal conflicts, and alleged marginalization of key contributors. Despite efforts to improve transparency through open forums, calls for leadership restructuring persist. The Foundation is planning to host an X Spaces series where top leadership will provide more insight into its operations.

See also  Here’s a Potential Downside Price Target for Cardano If ADA Sees New Correction, According to Benjamin Cowen

Overall, Hoskinson’s call for the Cardano Foundation to consider relocating to a more inclusive jurisdiction reflects a growing demand for greater community involvement and transparency in blockchain governance. This move could potentially lead to a more democratic and collaborative decision-making process within the Cardano ecosystem.

Cardano Charles communitydriven Foundation governance Hoskinson leave Switzerland urges
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